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The Ministerial Working Group on the Presbyterian Mutual Society (PMS) met this afternoon and afterwards reported that they had moved closer to a resolution aimed at assisting PMS members unable to access their investments since the society entered administration in 2008.

Owen Paterson, the Secretary of State for Northern Ireland, chaired the meeting, which was also attended by Minister of State for NI Hugo Swire, Financial Secretary to the Treasury Mark Hoban, First Minister Peter Robinson, deputy First Minister Martin McGuinness, Minister for Finance Sammy Wilson and Enterprise Minister, Arlene Foster.

Speaking after the meeting, the Secretary of State said:

We have made significant progress. We are confident that we will be able to outline a way forward for PMS members in the context of the Spending Review announcement on October 20 - and we remain committed to ensuring a fair and just resolution which will balance the interests of members and taxpayers.